Currency snapshot (major pairs)

Dollar index trading at 89.3 (-0.14%)

Strength meter (today so far) – Euro +0.54%, Franc +0.11%, Yen -0.50%, GBP +0.62%

Strength meter (since last week) – Euro +0.54%, Franc +0.11%, Yen -0.50%, GBP +0.62%

EUR/USD –

Trading at 1.242

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Sell

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• NIL

Commentary –

• The euro started the week on a solid footing as the dollar declines over trade tensions.

GBP/USD –

Trading at 1.421

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Sell

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• BBA mortgage approvals at 38,120 in February.

Commentary –

• The pound is the best performer of the day over the agreement with EU and as the dollar declines. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 105.2

Trend meter -

• Long term – Sell, Medium term – sell, Short term – Range/Sell

Support –

• Long term – 101, Medium term – 104.2, Short term – 104.2

Resistance –

• Long term – 111, Medium term – 109, Short term – 107

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the day as equities recover. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.945

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95 (testing)

Economic release today –

• NIL

Commentary –

• Franc is up in line with the euro this week.

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